Japan Land-Price Drop Narrows as Low Rates and REITs Lift Demand

Noriyuki Aida/Bloomberg

The Sumida river, left, and the Arakawa river, right, are seen from the viewing deck at the Tokyo Skytree, operated by Tobu Railway Co., in Tokyo. For commercial land, seven out of 10 that had the biggest increases were from greater Tokyo area, including locations from Kawasaki City in Kanagawa Prefecture and Asakusa area on the east part of Tokyo near Tokyo Skytree.